Santiment, an on-chain analytics firm, has identified a range of altcoins currently within the historical buy zone according to their fair value model. This assessment is based on the Market Value to Realized Value (MVRV) ratio, an indicator that tracks the profit and loss status of network addresses.
The MVRV ratio, when above 1, indicates that investors are in profit, while values below 1 signify losses. Santiment's Opportunity and Danger Zone Model utilizes the MVRV ratio's metrics over different timeframes to suggest whether an asset is in a buying or selling phase.
A shared chart from Santiment shows most altcoins in the buy zone, indicating investors are predominantly experiencing losses. Notable altcoins in this opportunity zone include Basic Attention Token (BAT), Chromia (CHR), and Highstreet (HIGH). Conversely, assets such as Ethereum Name Service (ENS), MANTRA (OM), and Reserve Rights (RSR) are in or near the danger zone, a region where coins are considered overvalued.
In broader terms, Ethereum, the largest altcoin, has dropped by over 4% in the past 24 hours, pushing its price below the $3,300 level.